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Mobile phone manufacturers release new devices almost every other quarter. Ever wondered what happens to the old ones?
Actually, what happens to old (or not so old) electronics that are simply out-paced by newer technology? Well, just like used cars and clothing, they are exported to Africa and other developing nations.
The so called export of used consumer goods to Africa is nothing more than dumping of electronic waste from rich, developed countries to unsuspecting developing nations that in most cases are forced by loan and grant conditions to buy the environmentally harzadous goods.
Known as …
- Vice President of the United States Kamala Harris toured Tanzania, Ghana, and Zambia. As the United States seeks to weaken China’s and Russia’s alliances with African countries
- In the past, the United States and Europe viewed Africa as a problem to be solved, whereas China concentrated on business, becoming the region’s biggest partner
- Its Part of a Strategic scramble for rare-earth minerals to power the world’s green revolution—cobalt, copper, and nickel, all of which are abundant in several African countries and are essential to electric cars and renewable technologies
Vice President of the United States Kamala Harris toured Tanzania, Ghana, and Zambia. As the United States seeks to weaken China’s and Russia’s alliances with African countries, she is the 18th and most senior American official to tour the continent this year. 11 African nations have been visited by American representatives since January.
First wife Jill Biden and U.S. Treasury …
The Kwacha is the official currency of Zambia. The country's foreign exchange rate remained unsettled for a very long time. However, Zambia has made substantial steps in recent years to strengthen its currency through economic measures and foreign support.
Zambia has set an example for other African nations by efficiently controlling its currency. While facing numerous economic issues, such as a drop in copper prices and a large debt, the Kwacha exchange rate has remained reasonably constant.…
Ghana finds itself in the classic emerging market trap. This comes from owing too much in someone else’s currency when the global economic tide turns. One ought not to read too much into an emerging economy getting creative with money or to confuse the confiscation of private assets with a more conventional process of fiscal retrenchment that would gain IMF approval. If the plan succeeds, Ghana may have saved itself from an economic meltdown, especially in a period widely considered as economic turmoil, per the World Bank’s analysis of the 2023 economy.…
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- The IMF deal caused the cedi to appreciate, relieving price constraints and potentially mitigating a downturn in commercial activity
- S&P Global’s Purchasing Managers’ Index, which gauges the health of the private sector, increased somewhat from 44.9 in November 2022 to 47 in December 2022
- The cedi gained 41% versus the dollar last month and saw a reduction in projected losses for 2022 to 39%, which lowered inflation and gave businesses some reprieve
A staff-level finance agreement with the IMF caused the cedi to appreciate, relieving price constraints that have afflicted the industry for more than a year and potentially mitigating a downturn in commercial activity in Ghana.
S&P Global’s Purchasing Managers’ Index, which gauges the health of the private sector, increased somewhat from 44.9 in November 2022 to 47 in December 2022.
However, it remained below the 50-point threshold that distinguishes expansion from contraction for the 11th consecutive month.
The reason farmers are forced to buy seeds is that projects like AGRA take away traditional organic seeds by giving subsidized GMO seeds, which cannot be replanted hence after harvest, the farmers must buy new batches of seeds to replant the next season.
In effect, forcing the farmers to rely on new purchases of seeds every year means the peasants are unwittingly caught in a cycle of dependency and poverty, for that matter.
Worse still, projects like AGRA that claims to introduce ‘modern agriculture technologies’ focus on using chemical-based fertilizers and pesticides and also push for monoculture, which locks the farmers in the dependency cycle; they have to buy more fertilizers to keep their lands productive, and they have to buy the same pesticides because of monoculture.
It is for such reasons that last year, AFSA released an open letter with over 200 signatories alleging that AGRA did not increase …
Big cap stocks are far more profitable with ROE’s of 67 per cent compared to 21 per cent for mid cap stocks. Further, their stock market returns are superior to mid-cap stocks.
Nestle Nigeria had the highest on Return on Equity of 215.4 per cent with a share price at 1,215.00 NGN. While, International Breweries had the lowest Return on Equity of a negative 2.5 per cent with a share price at 4.95 NGN as of September 30, 2022.
Nestle Nigeria Plc listed on the Nigerian Stock Exchange is a food manufacturing and marketing company in Nigeria and a subsidiary of the largest food and beverage company in the world. The company produces an extensive range of products for the retail and wholesale sectors.…
Ghana competes in the global economy primarily using natural resources. Other than the usual exports of cocoa, gold, lumber, and crude oil, Ghana has a competitive advantage in numerous product categories. Increasing the proportion of high-income commodities in the export basket hastens economic transition.
The opportunity is providing better, economically advantageous items to regional and worldwide markets. Cocoa processing, wood processing, aluminium products, palm oil, food and agro-processing, and fish processing are examples of manufacturing sub-sectors that fit these two requirements.
Manufacturing subsectors that capture considerable proportions of manufacturing value-added, such as food and drinks, chemicals, and textiles, have significant technology, knowledge, and skills inherent in them. These assets can be used to produce additional goods within the sub-sector or even outside of it. It is also easier to go up the value chain after you have mastered relevant technologies and markets.…
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To have only 3 of the eligible countries in Africa signing up for the initiative is tragic especially given the global economic environment of the world presently. A crippling sovereign crisis is looming on the African horizon. Catalysts of the crisis include a strong United States dollar which has been resurgent during the year.
Debt on the on the books of most African countries is denominated in the greenback and its strength will have an adverse impact on their public finances and their ability to service their loan obligations timeously.
This problem is further compounded by rising interest rates which are certain to make the cost of debt that much more expensive for countries that already cannot afford to be overextended financially.
The debt of most African countries is in the hands of private creditors who in recent time have become as important as their multilateral counterparts. These private creditors…
Ghana’s case specifically plays out with the dramatic effect consistent with a Shakespearean tragedy. The west African nation ironically is a darling of the West in terms of foreign direct investment. Yet, its debt levels have breached what multilateral institutions consider to be sustainable. A painful irony in the case of Ghana is that it was offered the opportunity to renegotiate the terms of its debts through the World Bank’s Debt Service Suspension Initiative. However, Ghana did not elect to participate.
A second painful irony is that Ghana, this time around, does not owe most of its debts to multilateral institutions like the International Monetary Fund or the World Bank. It owes the bulk of its debt to private lenders like the world’s largest asset manager Black Rock, and its has expressed that it has no interest in renegotiating the terms of Ghana’s sovereign debt.
If Ghana had borrowed from …